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Re: Annuities
Old 03-15-2005, 09:35 PM   #221
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Re: Annuities

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I don't remember being quoted in an article pushing the TMF advisor service, do you have a link? I'm not saying it's untrue, just don't remember the quote.

I have written two articles for TMF's retirement newsletter; one on the 4% SWR, the other on why an immediate life annuity isn't a good deal for most retirees. Both articles point out the virtue of not hiring an advisor.
Okay, I did some searching and found it. It was the one where the guy looked like Al Bundy. And my memory is faulty--you weren't quoted, and you weren't mentioned by name, but it was obvious one part refered to you. I asked if you had been interviewed for the piece or if you had been profiled from a distance, as he suggests he profiled a person by the description of who long-time REHP'ers must assume is you. I'll edit my previous post in this thread.

Link: My post questioning you.
Quote:
BTW, intercst, did this guy interview you for when he profiled you for his newsletter, or did he profile you from a distance? At first I was surprised you'd bother to be in someone else's paid newsletter, but TMF has been good to you.
Link: TMF article that refered to you but not by name.
Quote:
In my Rule Your Retirement newsletter, I regularly profile people who have retired and live enviable lives (some as young as 38!). One fellow left his job as an engineer and now travels four months a year and maintains a website about early retirement.
EDIT: I modified the earlier post in this thread:
Quote:
In fact I asked him a while back about his interview in the TMF article pushing their [Rule Your Retirement newsletter]--that is, the article pushed the [newsletter], not intercst, but he was described and quoted in the article. I didn't see an answer, but I come and go and lost the thread. I'm curious about his response, though. Corrected paragraph: Intercst was not named or interviewed in the article, although the article says the newsletter interviews retirees and gives an example person who sounds like he must be intercst. Follow this link for clarification.
EDIT 2: Had to change my earlier post again and then the quote here after I realized I said they pushed the TMF Advisor, but it's the Rule Your Retirement newsletter. Heh, had to backoff on the strikeouts and just replace some words because that message is right at the max size for this board.

EDIT 3: I'm sorry, how silly of me to respond directly with references to a factual question. I should have just stood my ground, dodged the question and accused you of repressing me. That's what we're doing in this thread, right?
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Re: Annuities
Old 03-15-2005, 10:05 PM   #222
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Re: Annuities

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Okay, I did some searching and found it. It was the one where the guy looked like Al Bundy. And my memory is faulty--you weren't quoted, and you weren't mentioned by name, but it was obvious one part refered to you. I asked if you had been interviewed for the piece or if you had been profiled from a distance, as he suggests he profiled a person by the description of who long-time REHP'ers must assume is you. I'll edit my previous post in this thread.

Link: My post questioning you.

Link: TMF article that refered to you but not by name.

EDIT: I modified the earlier post in this thread:

EDIT 2: Had to change my earlier post again and then the quote here after I realized I said they pushed the TMF Advisor, but it's the Rule Your Retirement newsletter. Heh, had to backoff on the strikeouts and just replace some words because that message is right at the max size for this board.
That's it. The two articles I wrote appeared in the "Rule Your Retirement" newsletter.

Billy Kaderli (http://www.geocities.com/ba264/) wrote an article or was interviewed for the newsletter, too.

Don't know if they've approached ***** yet. <LOL>

intercst
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Re: Annuities
Old 03-15-2005, 10:47 PM   #223
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Re: Annuities

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Hyper bore
Ho ho, I see that you've decided to unleash that razor sharp wit of yours again. This is the absolute pinnacle of what you've shown. Do you work acrostic puzzles all the time in ER to keep your word skills so keen?

Quote:
Tony seems to be easily confused. I'm NOT sure he even noticed the "early" in the forum's title. OR perhaps he really believes 60 is as early as it gets.
I was hoping that by hitting him over the head with a couple of examples that he might see the point but instead he's decided to dismiss them out of hand.
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Re: Annuities
Old 03-16-2005, 12:42 AM   #224
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Re: Annuities

The title of the thread is "annuities." The content of the thread is "growing pains."
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Re: Annuities
Old 03-16-2005, 03:27 AM   #225
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Re: Annuities

: I thought this was an earily retirement message board.

When majority of people talk about early retirement that has always meant to me age 55 to age 62.

With all the nonsense you people are posting here, I now know that all of you are under age 30.

I think your link should be removed from the AARP website which is how I found this site because the discussion sever no purpose for those age 55 and UP!

I will try this one last time!

As I keep saying, what I did works great for me.

I believe it could work great for someone else on this board.

Since, you don't believe the annuity amounts that I bought back in May 2004, I have a challenge for 1 person who is about to retire.

Give me the dollar amount that you want to spend each month in retirement along with your birthdate, sex and the state in the USA you live in.

I will do the research and tell you the exact amount you need to buy the immediate annuity that will pay you this income life.

This will take me a couple of days to do as I need to contact the person I dealt with and ask him to get me the amounts.

Please only do this if you are about to retire or already retired thinking about another way to get income.

Post your information and I will select the post I understand.

I will only do this for a real example. If its not a real example you will not see what I saw from this strategy.

Is anybody up to this challenge

Tony

P.S. If I don't get a real situation of a poster about to retire, I will not ask this again.
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Re: Annuities
Old 03-16-2005, 03:52 AM   #226
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Re: Annuities

Hello Tony.

Re. "I will ask this one last time" and "I will not ask this again". That giant sucking sound is a huge hopeful sigh,
emanating from the collective posters here.
We assume you are a man of your word, or if not
at least will be one in this case. We already have one egomaniac here and that is probably sufficient. Besides,
I was here first

JG
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Re: Annuities
Old 03-16-2005, 03:54 AM   #227
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Re: Annuities

:Interesting form a Newsletter I just Received on legislation for the 109th Congress, according to equity analyst Andrew Kligerman of UBS

Following a recent "field trip" to the nation's capital that included discussions with representatives of the U.S. Department of the Treasury, Senate Finance Committee, House Financial Services Committee and key lobbying groups, Kligerman said he saw only "limited" support for recent congressional proposals for lifetime savings accounts, tax deductions for long-term-care insurance, permanent abolition of the estate tax, and permanent reductions of the dividends and capital gains taxes, and doesn't expect any of them to move in 2005.

"From where I sit, there seem to be mixed signals," Kligerman said. "President Bush is coming off some recent political successes, but the polls show he is having a hard time convincing the public on this issue, and just yesterday, Sen. (Lindsey) Graham of South Carolina said focusing on private investment accounts was a strategic mistake." Under the Bush proposal -- which has yet to be introduced in either chamber of Congress but is estimated to produce transition costs of more than $2 trillion over the next decade -- younger workers would, beginning in 2009, have the option of investing as much as 4% of their salary into personal retirement accounts using funds that otherwise would have gone toward Social Security payroll taxes. Participants could choose to invest those funds into a limited menu of diversified equity funds and fixed-income funds.

Though the Social Security Administration would continue to administer the accounts, private investment companies would manage the funds under a contract with the government, with annual fees estimated to be about 0.03%. At retirement, workers would be required -- either through the federal government or on their own -- to use a portion of their account's distribution to purchase lifetime annuities.

Though the unified Democratic opposition and only soft Republican support seen for the President's Social Security package would make passage seem unlikely, Jim Morrill, Lincoln National's director of federal relations, said that given the President's commitment to the issue -- most recently evidence in an ongoing "60 stops in 60 days" tour across the United States -- he wasn't willing to rule it out.

But even without passage, the Social Security debate itself has raised awareness of both asset-planning issues generally and annuities specifically, Morrill said. "The word annuity has become better understood in Washington, and the whole concept of a paycheck for life is attractive to a lot of people who are looking at these issues," he added.

"Reform of the estate tax is more likely than repeal, but if they define reform at a 15% rate, and an exclusion of up around $5 million for individual and $10 million for a couple, that's tantamount to repeal and would cost as much as repeal," Morrill said. "We have seen numbers that indicate that if they had a 45% rate, which they're set to get in 2010 before it fully repeals, with those exclusions, that program is going to cost $300 billion. It's unlikely that they're going to find money this year to deal with a full or permanent repeal, so they're kind of throwing everything in to 2010."

Fresh interesting info. Looks like you people will be getting into Immediate Annuities with lifetime income after all. If Social Security reform goes through.

Tony
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Re: Annuities
Old 03-16-2005, 04:59 AM   #228
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Re: Annuities

Tony

Third and last time:

Single age 61, 62 in July, Louisianna, 1200/mo SS at 62.

750k trad IRA, 150k taxable stocks, 100k timberland.

Prefer the answer as yearly income.
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Re: Annuities
Old 03-16-2005, 05:07 AM   #229
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Re: Annuities

:Ok unclemick2

What is the monthly amount you want to spend or need to spend each month in retirement

Take that amount and subtract the $1,200 SS.

What is the net amount

Tony
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Re: Annuities
Old 03-16-2005, 05:12 AM   #230
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Re: Annuities

: unclemick2

Also need the State in the USA you live in?

Tony
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Re: Annuities
Old 03-16-2005, 05:18 AM   #231
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Re: Annuities

:unclemick2

It would be best if I had your birthdate! I am told that it can make a defferenct with some ins co.

Tony
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Re: Annuities
Old 03-16-2005, 06:25 AM   #232
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Re: Annuities

I have been reading your forum (forums) for some time and finally have a feel for the neighborhood. I have to say you are a group with a great sense of humor. (Intelligent people often do.) I am working hard on FI and hope to RE.

Tony, your posts (or should I say post since they are all the same) are almost as funny as the ongoing SWR jihad I have been following. I am very glad you are already retired because I doubt you will pick up any commissions around here. I use to think immediate annuities made some sense for some people, but you are making me reevaluate that position. Thanks for the laughs.

HnE
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Re: Annuities
Old 03-16-2005, 06:33 AM   #233
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Re: Annuities

Quote:
:unclemick2

It would be best if I had your birthdate! I am told that it can make a defferenct with some ins co.

Tony
unclemick2

It would be best if I had you social security number and checking account number! I am tlod it cna meke a deferment with some ins cos. Plus I now this gyu in Nygerea...
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Re: Annuities
Old 03-16-2005, 07:08 AM   #234
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Re: Annuities

Quote:
: I thought this was an earily retirement message board.

When majority of people talk about early retirement that has always meant to me age 55 to age 62.

With all the nonsense you people are posting here, I now know that all of you are under age 30.

I think your link should be removed from the AARP website which is how I found this site because the discussion sever no purpose for those age 55 and UP!
Hey Tony, I'm 30, and I plan on retiring at 45, your narrow view of what a retiree looks like explains your fixation on one investment product. 55 is not retiring early! Note the name of this Forum!
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Re: Annuities
Old 03-16-2005, 07:10 AM   #235
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Re: Annuities

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I think your link should be removed from the AARP website which is how I found this site because the discussion sever no purpose for those age 55 and UP!
This site is linked on AARP? Cool. I looked around AARP but couldn't find it. Anyone know where it's linked?
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Re: Annuities
Old 03-16-2005, 07:31 AM   #236
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Re: Annuities

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Unclemick your million bucks could generate you about $6495/month based on your ~20yr life expectancy with an immediate annuity. The amount is fixed and NOT inflation adjusting.
That number sounds tempting, but then I tend to think in terms of today's dollars. When I play with FIREcalc I see today's dollars and then the terminal value but don't see the amount I'm calculated to be withdrawing in year 10 or 20. So, briefly, what is $77k per year in 15 years equivalent to in today's dollars?
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Re: Annuities
Old 03-16-2005, 08:49 AM   #237
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Re: Annuities

Soooo

If you make it to your 60's where mortality tables began to gain traction, are extremely risk adverse, don't love the thrills and chills of the stock market, have real estate profits, or other reasons, then annuities(fixed or inflation adjusted) become another viable card to play/ or at least ?? a benchmark bogey to measure against.

Now - for twist number two - what if you want to go ex-pat and perhaps just American inflation won't cut it.

Some foreign annuities to go with the American ones??

I keep remembering my old Brit engineers and their fondness for the Swiss versions.
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Re: Annuities
Old 03-16-2005, 01:23 PM   #238
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Re: Annuities

I have a question, if most of my assets are in an IRA when I retire, doesn't an annuity not make sense for me, I mean, even if I did want to hand over my portfolio, pay commisions etc.? I mean, I gotta pay income tax on withdrawals anyway, and the 72t rules set how much I can withdraw early.....
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Re: Annuities
Old 03-16-2005, 01:48 PM   #239
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Re: Annuities

Good question - the only thing I noticed when I ran my fixed Vanguard annuity for age 62, was 'annuities in an IRA are treated like any other asset'. So in trad IRA - fully taxible?

The interplay between 72t or RMD and an annuity??

Do not know. Interesting.
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Re: Annuities
Old 03-16-2005, 01:48 PM   #240
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Re: Annuities

You are correct sir!

An annuity makes sense for someone that is a little further along in age, is in excellent health, expects a very long lifespan, has very little risk tolerance, wishes to have very little involvement in investing or investment professionals, wants to know exactly how much money they're going to get on a fixed (or inflation adjusted) streaming basis for the rest of their lives, doesnt want to worry about ever running out of money...I think you get the idea.

Like I said way back early on in this thread, you're giving up some financial earning potential in exchange for reduced risk vis a vis knowing how much you're going to get and when. The annuity provider is taking on that risk in exchange for paying you less than they'll make on your money and hoping you die earlier than the life expectancy tables say that you will.

This is just like leasing a car. Makes sense for a segment of people. Makes no sense at all for others.
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